Are You Ready to Rent?

       Thinking about moving into your first apartment? The transition may be getting harder: According to Census data, 39% of single women and 46% of single men between the ages of 20-29 were living at home in 2005, up from 36% of women and 42% of men in 2000.
 

       It's a small increase, but a 2007 study by the Pew Charitable Trusts suggests that as a group, young people earn considerably less than their parents did at the same age, after adjusting for inflation. In other words, for those who have just secured their first jobs and want to make the move to independence, it might not be a picnic.

The Goal: To pay your bills, stay out debt and enjoy your new space. Read on to learn how to prepare.

Can You Afford to Move?

       Although you may feel ready to get out on your own, make sure your finances are in order before you take the leap. Check out the rental listings by Tonti Management in the Greater New Orleans area and get an idea of how much you'll have to pay to live there.

       You may be unsure of how to determine how much rent you can afford, but U.S. Housing Department guidelines suggest that you shouldn't pay more than 25-30% of your gross salary for rent. In other words, if you make $30,000 per year, you should look for apartments that cost about $750. If this isn't realistic in your area, you may have to get a roommate to share the cost.

       Next, you'll have to consider your other monthly expenses and whether you'll be able to pay those bills as well. Do some accounting to determine how your finances will balance out with the added expense of living in your own place. Start with your monthly take-home pay, add any other income you might receive and subtract your other expenses from this number.

       If you are already making payments on a car, credit card or student loan, be sure to include these amounts in your expenses list. Gas for your car (or a bus pass), insurance (rental and vehicle), cell phone bills and an estimate of the amount you usually spend on personal items should also be included.

       Ask your parents or other people you know to help you come up with estimates on how much your new apartment expenses, like your utilities, telephone and cable bills, and groceries will cost. They might also alert you to additional expenses that you weren't aware of.

Learn to Budget

       What if your apartment expenses turn out to be higher than your income? This is where things get interesting. In short, you'll have to get out your calculator and make a budget. Relying on your credit card to cover this shortfall is a no-no and is often a dangerous path to major debt down the road.

       Take a look at your budget. Is there anything in there you could live without or pay less for? Usually, the answer is "yes", and if you look critically at how you spend your money, you will likely be able to trim your expenses so that they match up with your income, or, better yet, so that you have some money left over each month to save in case of an emergency.

       Also consider that you'll have to have some savings (or some help) to begin with, as most apartments will make you pay your first and last months' rent up front, along with a security deposit. There will also be fees for hooking up your up utilities to consider, along with moving expenses and the cost of any items you'll need once you move in. Laundry is also often an additional expense.

       Finally, you will need to purchase renters' insurance.  Rental insurance is affordable and it can cover damage (such as in a fire) and theft to your belongings. It will also protect you from liability if you cause the damage yourself.

Find a Place You Can Call Home

       Once you have set some parameters in terms of what you can afford, it's time to start looking for an apartment to move into.  Although you'll definitely want to find an apartment that fits your budget, make sure it's in a neighborhood you like, are familiar with and feel safe in - what looks like a bargain can turn out to be a nightmare if you feel uncomfortable there, live too far away from your friends and family or have to make a very long commute to your job.

The Big Move

       Once you've signed your lease and have an apartment move-in date, it's time to start working on a list of what you'll need in your new place. One way to do this is to make a list of what you use regularly for a few days, including kitchen utensils, office supplies and personal items. If you won't be taking these items with you, you may have to shop for your own.

       Keep in mind that your first apartment will not have all of the amenities you may be used to and, if you can't afford to buy them all for yourself right away, you'll probably have to be resourceful and make use of what you do have.  Similarly, if your budget it tight, you may not be able to have new furniture right away.

       If you don't have any furniture of your own for your apartment, start asking family and friends if they have bits and pieces you can buy, have or borrow. You can do the same for any other items you need.

       You should also stock up on basic items for your pantry such as pasta, rice, canned goods and frozen foods. Keeping your kitchen well stocked with things you like, know how to cook and are easy to prepare may prevent you from going out to eat, which will help you stay within your new budget.

Independence Day

       If you've done everything right, your utilities at the apartment you are renting should be hooked up, your bags packed and your bills paid. Determine what day you will be moving into your new apartment and decide how you'll get your things there. If possible, recruit friends and family to help you move, rather than hiring a mover.

Conclusion
 

       The transition to making it on your own in an apartment may not be simple, but if you do it right, you can avoid having to retreat to your parents' basement. Plus, you'll develop the skills you need to improve your standard of living as you go along.

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How to Find a Rental Property That Allows Pets

Your pets are like children to you, and you couldn't think of not having them at home. How do you get a landlord to accept your pets, when landlords have the right to not allow pets in the properties that they rent?  Most apartments that are rented in the Greater New Orleans area by Tonti Management allow pets.  We do, however, require a non-refundable pet fee.

***By the Way, Contact Us Directly to learn about our Cleaning Fee Special***

If you are looking for an apartment in Metairie, Jefferson, Kenner, or River Ridge, then you will have no problem finding an apartment that allows small pets.  If you are looking in other areas in New Orleans, then here’s how to take care of the pet allowance issue while you are looking for a new rental in the classifieds.

•  Scratch off the properties that are clearly marked no pets.

•  Consider smaller properties rather than apartment complexes. A smaller property will usually be handled by the landlord directly, rather than a management firm.

•  Bring up your pet over the phone and give specifics.  There are usually pet restrictions.

•  Be honest. Let the landlord know what kind of pets you have, their habits and current size. Do not give the landlord a picture of your Great Dane when he was a puppy.

•  Offer to pay an additional security deposit.

•  Make it easy for the landlord to say yes. Send a letter of reference from your current landlord that shows that you are a responsible pet owner, or consider writing a resume for your pet.

•  Respect your landlord's decision. No means no.

Other Tips to Consider

You can get suggestions for making a pet resume from your local ASPCA.
Back up claims with paperwork wherever possible. Vet records and obedience school certificates can be that little extra which swings a landlord your way.
Violating a landlord's clearly stated refusal to allow pets on the rental property can result in eviction.

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How to Inspect a Prospective Apartment

Once you sign a lease, your options for improving the conditions in and around your rental will be limited. Take the time before you sign to make sure the place you are considering meets your standards.

Inspect the Outside

Inspect the Unit

 

Check the size of the rooms and the doorways to make sure they will accommodate your furniture.

Make a note of the number and size of closets, and try all the doors to make sure they work.

Examine the bathroom. Give everything a test run. Watch out for leaks, bad water pressure, poor drainage and poor ventilation.

Examine the kitchen. Make sure everything works well, and look for easy-to-clean surfaces, good ventilation and adequate work and storage space.

Find out about heating and cooling arrangements for your unit.

Tour the utility room and storage spaces. Check for adequate lighting, cleanliness, security and signs of vermin.

Inspect Common Areas

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